Rootstown, OH -- Northeast Ohio Medical University was announced as a winner of the prestigious 2016 i6 Challenge, a national competition based on the most impactful national models for startup creation, innovation and commercialization.
NEOMED will receive a $498,282 grant for the University’s project proposal which was deemed among the most compelling and competitive of the more than 170 applications received.
NEOMED’s Research, Entrepreneurship, Discovery and Innovation Zone will house the project titled “Accelerating Pharmaceutical Commercialization: A Rural Proof of Concept Center for Economic Development.” The Center will support companies and NEOMED researchers in accelerating their therapies toward human clinical trials.
“This award is especially exciting because it positions NEOMED to support external companies that are developing new drugs and devices, and our own university researchers who are working to develop their fundamental research,” said Walter E. Horton Jr, Ph.D., vice president for research at NEOMED. “Advancing both toward commercial applications, which support regional economic development.”
NEOMED was one of 25 awardees that will receive a total of $10 million under the Economic Development Administration’s 2015 Regional Innovation Strategies program.
